New Rapid-Deployment Capability in FICO Model Central Slashes Time-to-Value of Predictive Models by Up to 80 Percent
New feature works with models built using most leading modeling tools
SAN JOSE, Calif., March 5, 2013 /PRNewswire/ -- FICO (NYSE: FICO), the leading provider of predictive analytics and decision management technology, today announced Model Deployment Accelerator, a new capability in FICO® Model Central™ Solution which speeds deployment of predictive models into operational systems, cutting the time needed by as much as 80 percent. Model Deployment Accelerator consumes and deploys models authored in virtually any modeling development tool.
FICO Model Central Solution eliminates the time-consuming and error-prone process of recoding the model for deployment by converting the model formula into a scoring service for deployment in a rules engine or any legacy application environment. Model Deployment Accelerator, in combination with existing FICO Model Central features, provides complete lifecycle management of models to help companies ensure that they are using the most effective models.
FICO Model Central Solution enables companies to automate the validation, tracking and monitoring of existing models to support regulatory compliance and provide early identification of model degradation that can impact the bottom line. It also comes with access to advanced modeling techniques for model redevelopment, plus simulation and optimization capabilities to identify business impact, create superior strategies, and maximize the value of predictive models.
"Our clients tell us that reducing the time between the conception of a model, validation, and deployment into production is a high value benefit of effective model governance programs," said Michael Versace, research director at IDC. "Ensuring models can be quickly deployed efficiently and in a standard programming language is essential to success."
"Enterprises across the globe require greater agility to deal with shifting economic, regulatory and competitive pressures," said Dr. Andrew N. Jennings, FICO's chief analytics officer and head of FICO Labs. "By cutting the amount of time needed to build and deploy predictive models built using virtually any of the leading modeling tools, FICO Model Central gives businesses a measureable competitive advantage."
FICO (NYSE: FICO) delivers superior predictive analytics solutions that drive smarter decisions. The company's groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO's innovative solutions include the FICO® Score — the standard measure of consumer credit risk in the United States — along with industry-leading solutions for managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world's top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helps millions of individuals manage their personal credit health through www.myFICO.com. Learn more at www.fico.com. FICO: Make every decision count™.
For FICO news and media resources, visit www.fico.com/news.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2012 and its last quarterly report on Form 10-Q for the period ended December 31, 2012. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
FICO, Model Central and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
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